Money management firms: ranked by assets managed as of Dec. 31, 2003 (1).EXECUTIVE SUMMARY THE effect of a bull market was felt by the 25 largest money management firms in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County, whose assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. increased by 35.5 percent from a year earlier, to $1.2 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. as of Dec. 31, 2003. Stock market gains reversed three year of declines, and a heavy reliance on equities helped all the firms. Of the 23 disclosing their portfolio mix figures, equity was the most popular category, averaging 54.2 percent of total assets. Fixed income came in a distant second, averaging 29.5 percent. The four largest firms dominate the list, accounting for more than 70 percent of the overall list's total asset value and three-quarters Noun 1. three-quarters - three of four equal parts; "three-fourths of a pound" three-fourths common fraction, simple fraction - the quotient of two integers three-quarters npl → of the asset increase. Two firms reported triple-digit gains in assets under management in their L.A. County offices: No. 8 Boston Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. Co. Asset Management added $16.1 million, or 112.6 percent, to its assets year over year for $30.4 billion; and No. 24 Post Advisory Group saw assets increase to $4.4 billion, a 120 percent gain. Three firms saw assets under management decline. THE TRENDS [GRAPHICS OMITTED] THE PACESETTER CAPITAL RESEARCH AND MANAGEMENT CO. WITH $532.4 billion in assets under management as of Dec. 31, 2003, this is by far the largest money management firm in Los Angeles County. The asset base of runner-up run·ner-up n. pl. run·ners-up One that takes second place, as in a game, sport, or other competition. runner-up Noun pl runners-up Capital Guardian guardian In law, one who has, or is legally appointed to, the care and management of another, usually a minor. A natural guardian is a guardian by natural relationship (usually the father or mother). Trust Co. is a third that of Capital Research. Rebounding equity markets and the addition of new clients Research see its assets under management rise by nearly 49 percent in 2003 over the previous year. The Los Angeles-based firm's portfolio is heavily weighted toward equities, which account for 76 percent of its investments. The balance is made up of fixed-income (14 percent) and cash (10 percent). Capital Research's funds have largely avoided mutual fund industry scandals, helping it gain new clients. Founded in 1931 as the first of the Capital Group Cos., Capital Research is the investment adviser to the 29 mutual funds in the American Funds  Please see the discussion on the talk page. Its American Funds Group accounts for the majority of the manager's assets. American Funds is the third-largest mutual fund family domestically, behind Vanguard Vanguard Any of three unmanned U.S. experimental satellites. Vanguard I (1958), the second U.S. satellite placed in orbit around Earth (after Explorer 1), was a tiny 3.25-lb (1.47-kg) sphere with two radio transmitters. Group and Fidelity Fidelity is a notion that at its most abstract level implies a truthful connection to a source or sources. Its original meaning dealt with loyalty and attentiveness to one's duty to a lord or a king, in a broader sense than the related concept of fealty. , and had nine of the 20 best-selling best·sell·er also best seller n. A product, such as a book, that is among those sold in the largest numbers. best funds in 2003. American Funds Group was the top-selling fund family for the year, with $65.6 billion in net inflows, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Financial Research Corp. The firm sells its products exclusively through financial advisers.
Rank Firm Assets Minimum
* name Managed (1) Account
* address (billions) (millions)
* Dec. 31, 2003
* Dec. 31, 2002
1 Capital Research and $532.4 (2) varies
Management Co. $358.1 (2)
333 S. Hope St.
Los Angeles 90071
2 Capital Guardian Trust Co. 146.1 (2) $10-$50
333 S. Hope St. 105.4 (2)
Los Angeles 90071
3 Western Asset Management 119.2 75
385 E. Colorado Blvd. 97.4
Pasadena 91101
4 TCW Group 90 varies
865 S. Figueroa St., 79
Suite 1800
Los Angeles 90017
5 Payden & Rygel 51 varies
333 S. Grand Ave. 45
Los Angeles 90071
6 Dimensional Fund Advisors Inc. 48.3 2-10
1299 Ocean Ave., 11th Floor 34.5
Santa Monica 90401
7 Primecap Management Co. 34.3 100
225 S. Lake Ave., Suite 400 22.5
Pasadena 91101
8 Boston Co. Asset Management 30.4 5
400 S. Hope St., Fifth Floor 14.3
Los Angeles 90071
9 Oaktree Capital Management LLC 27.9 2-3
333 S. Grand Ave., 28th Floor 25.4
Los Angeles 90071
10 Wells Fargo & Co. 20.4 0.1
333 S. Grand Ave., Suite 540 19.9
Los Angeles 90071
11 Pacific Financial Research 17.7 50
9601 Wilshire Blvd., Suite 800 13.1
Beverly Hills 90210
12 First Quadrant LP 17.4 25
800 E. Colorado Blvd., 13.3
Suite 900
Pasadena 91101
13 NWQ Investment 13.6 2
Management Co. LLC 7.6
2049 Century Park East,
Fourth Floor
Los Angeles 90067
14 Metropolitan West 13.5 10-25
Asset Management 15.3
11766 Wilshire Blvd.,
Suite 1580
Los Angeles 90025
15 Kayne Anderson Rudnik 10.3 5
Investment Management LLC 8.6
1800 Avenue of the Stars,
Second Floor
Los Angeles 90049
16 Hotchkis and Wiley $9.6 $15
Capital Management LLC $4.9
725 S. Figueroa St.,
39th Floor
Los Angeles 90017
17 Transamerica Investment 8.2 10 (4)
Management LLC 7.2
11500 S. Olive St., Suite 2700
Los Angeles 90015
18 Wilshire Associates 7.9 2,500 (5)
1299 Ocean Ave. 7.6
Santa Monica 90401
19 Northern Trust Bank of 7.3 2
California N.A. 7.9
355 S. Grand Ave., Suite 2600
Los Angeles 90071
20 Provident Investment 6.2 5
Counsel Inc. 4.9
300 N. Lake Ave.
Pasadena 91101
21 CB Richard Ellis Investors LLC 5.8 N/A
865 S. Figueroa St., 5.3
Suite 3500
Los Angeles 90017
22 City National Bank 5.7 1
400 N. Roxbury Drive 5.9
Beverly Hills 90210
23 First Pacific Advisors Inc. 5.5 10-25
11400 W. Olympic Blvd., 4.1
Suite 1200
Los Angeles 90064
24 Post Advisory Group LLC 4.4 25
11755 Wilshire Blvd., 2
Suite 1400
Los Angeles 90025
25 U.S. Trust Co. 4.4 2
515 S. Flower St., Suite 2700 4.1
Los Angeles 90071
2003 Portfolio Mix
Rank Firm Equity Fixed
* name Income
* address
1 Capital Research and 76% 14%
Management Co.
333 S. Hope St.
Los Angeles 90071
2 Capital Guardian Trust Co. 91 7.3
333 S. Hope St.
Los Angeles 90071
3 Western Asset Management 0 100
385 E. Colorado Blvd.
Pasadena 91101
4 TCW Group 42 48
865 S. Figueroa St.,
Suite 1800
Los Angeles 90017
5 Payden & Rygel WND WND
333 S. Grand Ave.
Los Angeles 90071
6 Dimensional Fund Advisors Inc. 86 12
1299 Ocean Ave., 11th Floor
Santa Monica 90401
7 Primecap Management Co. 96 0
225 S. Lake Ave., Suite 400
Pasadena 91101
8 Boston Co. Asset Management 100 0
400 S. Hope St., Fifth Floor
Los Angeles 90071
9 Oaktree Capital Management LLC 0 51.3
333 S. Grand Ave., 28th Floor
Los Angeles 90071
10 Wells Fargo & Co. 60 30
333 S. Grand Ave., Suite 540
Los Angeles 90071
11 Pacific Financial Research 95.2 (3) 0
9601 Wilshire Blvd., Suite 800
Beverly Hills 90210
12 First Quadrant LP 30 0
800 E. Colorado Blvd.,
Suite 900
Pasadena 91101
13 NWQ Investment 84 9
Management Co. LLC
2049 Century Park East,
Fourth Floor
Los Angeles 90067
14 Metropolitan West 0 100
Asset Management
11766 Wilshire Blvd.,
Suite 1580
Los Angeles 90025
15 Kayne Anderson Rudnik 91 9
Investment Management LLC
1800 Avenue of the Stars,
Second Floor
Los Angeles 90049
16 Hotchkis and Wiley 100% 0%
Capital Management LLC
725 S. Figueroa St.,
39th Floor
Los Angeles 90017
17 Transamerica Investment 12.9 72.8
Management LLC
11500 S. Olive St., Suite 2700
Los Angeles 90015
18 Wilshire Associates WND WND
1299 Ocean Ave.
Santa Monica 90401
19 Northern Trust Bank of 51 34
California N.A.
355 S. Grand Ave., Suite 2600
Los Angeles 90071
20 Provident Investment 93 4
Counsel Inc.
300 N. Lake Ave.
Pasadena 91101
21 CB Richard Ellis Investors LLC 0 0
865 S. Figueroa St.,
Suite 3500
Los Angeles 90017
22 City National Bank 48 46
400 N. Roxbury Drive
Beverly Hills 90210
23 First Pacific Advisors Inc. 55.1 21.9
11400 W. Olympic Blvd.,
Suite 1200
Los Angeles 90064
24 Post Advisory Group LLC 2 84
11755 Wilshire Blvd.,
Suite 1400
Los Angeles 90025
25 U.S. Trust Co. 32.6 34.1
515 S. Flower St., Suite 2700
Los Angeles 90071
2003 Portfolio Mix
Rank Firm Cash Real Other
* name Equi- Estate
* address valent
1 Capital Research and 10% 0% 0%
Management Co.
333 S. Hope St.
Los Angeles 90071
2 Capital Guardian Trust Co. 1.7 0 0
333 S. Hope St.
Los Angeles 90071
3 Western Asset Management 0 0 0
385 E. Colorado Blvd.
Pasadena 91101
4 TCW Group 0 2 8
865 S. Figueroa St.,
Suite 1800
Los Angeles 90017
5 Payden & Rygel WND WND WND
333 S. Grand Ave.
Los Angeles 90071
6 Dimensional Fund Advisors Inc. 0 2 0
1299 Ocean Ave., 11th Floor
Santa Monica 90401
7 Primecap Management Co. 4 0 0
225 S. Lake Ave., Suite 400
Pasadena 91101
8 Boston Co. Asset Management 0 0 0
400 S. Hope St., Fifth Floor
Los Angeles 90071
9 Oaktree Capital Management LLC 0 6.3 42.4
333 S. Grand Ave., 28th Floor
Los Angeles 90071
10 Wells Fargo & Co. 7 3 0
333 S. Grand Ave., Suite 540
Los Angeles 90071
11 Pacific Financial Research 4.8 (3) 0 0
9601 Wilshire Blvd., Suite 800
Beverly Hills 90210
12 First Quadrant LP 0 0 70
800 E. Colorado Blvd.,
Suite 900
Pasadena 91101
13 NWQ Investment 7 0 0
Management Co. LLC
2049 Century Park East,
Fourth Floor
Los Angeles 90067
14 Metropolitan West 0 0 0
Asset Management
11766 Wilshire Blvd.,
Suite 1580
Los Angeles 90025
15 Kayne Anderson Rudnik 0 0 0
Investment Management LLC
1800 Avenue of the Stars,
Second Floor
Los Angeles 90049
16 Hotchkis and Wiley 0% 0% 0%
Capital Management LLC
725 S. Figueroa St.,
39th Floor
Los Angeles 90017
17 Transamerica Investment 14.3 0.0 0.0
Management LLC
11500 S. Olive St., Suite 2700
Los Angeles 90015
18 Wilshire Associates WND WND WND
1299 Ocean Ave.
Santa Monica 90401
19 Northern Trust Bank of 8 4 3
California N.A.
355 S. Grand Ave., Suite 2600
Los Angeles 90071
20 Provident Investment 3 0 0
Counsel Inc.
300 N. Lake Ave.
Pasadena 91101
21 CB Richard Ellis Investors LLC 0 100 0
865 S. Figueroa St.,
Suite 3500
Los Angeles 90017
22 City National Bank 4 2 0
400 N. Roxbury Drive
Beverly Hills 90210
23 First Pacific Advisors Inc. 22.1 0 0.9
11400 W. Olympic Blvd.,
Suite 1200
Los Angeles 90064
24 Post Advisory Group LLC 14 0 0
11755 Wilshire Blvd.,
Suite 1400
Los Angeles 90025
25 U.S. Trust Co. 28.9 0 3.2
515 S. Flower St., Suite 2700
Los Angeles 90071
Rank Firm L.A. County Staff
* name * portfolio managers
* address * researchers
1 Capital Research and 24
Management Co. 35
333 S. Hope St.
Los Angeles 90071
2 Capital Guardian Trust Co. 15
333 S. Hope St. 34
Los Angeles 90071
3 Western Asset Management 19
385 E. Colorado Blvd. 17
Pasadena 91101
4 TCW Group 34
865 S. Figueroa St., 86
Suite 1800
Los Angeles 90017
5 Payden & Rygel WND
333 S. Grand Ave. WND
Los Angeles 90071
6 Dimensional Fund Advisors Inc. 13
1299 Ocean Ave., 11th Floor 7
Santa Monica 90401
7 Primecap Management Co. 5
225 S. Lake Ave., Suite 400 8
Pasadena 91101
8 Boston Co. Asset Management 50
400 S. Hope St., Fifth Floor N/A
Los Angeles 90071
9 Oaktree Capital Management LLC 5
333 S. Grand Ave., 28th Floor 43
Los Angeles 90071
10 Wells Fargo & Co. 35
333 S. Grand Ave., Suite 540 12
Los Angeles 90071
11 Pacific Financial Research 7
9601 Wilshire Blvd., Suite 800 7
Beverly Hills 90210
12 First Quadrant LP 4
800 E. Colorado Blvd., 10
Suite 900
Pasadena 91101
13 NWQ Investment 7
Management Co. LLC 14
2049 Century Park East,
Fourth Floor
Los Angeles 90067
14 Metropolitan West 13
Asset Management 12
11766 Wilshire Blvd.,
Suite 1580
Los Angeles 90025
15 Kayne Anderson Rudnik 11
Investment Management LLC 5
1800 Avenue of the Stars,
Second Floor
Los Angeles 90049
16 Hotchkis and Wiley 77
Capital Management LLC
725 S. Figueroa St.,
39th Floor
Los Angeles 90017
17 Transamerica Investment 5
Management LLC 3
11500 S. Olive St., Suite 2700
Los Angeles 90015
18 Wilshire Associates 4
1299 Ocean Ave. 6
Santa Monica 90401
19 Northern Trust Bank of 12
California N.A. N/A
355 S. Grand Ave., Suite 2600
Los Angeles 90071
20 Provident Investment 14
Counsel Inc. 7
300 N. Lake Ave.
Pasadena 91101
21 CB Richard Ellis Investors LLC 10
865 S. Figueroa St., 4
Suite 3500
Los Angeles 90017
22 City National Bank 19
400 N. Roxbury Drive 10
Beverly Hills 90210
23 First Pacific Advisors Inc. 7
11400 W. Olympic Blvd., 2
Suite 1200
Los Angeles 90064
24 Post Advisory Group LLC 5
11755 Wilshire Blvd., 4
Suite 1400
Los Angeles 90025
25 U.S. Trust Co. 15
515 S. Flower St., Suite 2700 N/A
Los Angeles 90071
Rank Firm Key Executives
* name * CIO
* address * client connection
* phone
1 Capital Research and James F. Rothenberg
Management Co. Chuck Freadhoff
333 S. Hope St. (213) 486-9200
Los Angeles 90071
2 Capital Guardian Trust Co. David Fisher
333 S. Hope St. John Seiter
Los Angeles 90071 (213) 486-9200
3 Western Asset Management S. Kenneth Leech
385 E. Colorado Blvd. Veronica Amici
Pasadena 91101 (626) 844-9400
4 TCW Group Robert D. Breyer
865 S. Figueroa St., Mark W. Gibello
Suite 1800 (213) 244-0000
Los Angeles 90017
5 Payden & Rygel Global Policy Committee
333 S. Grand Ave. Greg Brown
Los Angeles 90071 (213) 625-1900
6 Dimensional Fund Advisors Inc. David Booth
1299 Ocean Ave., 11th Floor John Siciliano
Santa Monica 90401 (310) 395-8005
7 Primecap Management Co. Howard B. Schow
225 S. Lake Ave., Suite 400 Mitchell J. Milias
Pasadena 91101 (626) 304-9222
8 Boston Co. Asset Management Corey Griffin
400 S. Hope St., Fifth Floor Robert T. Harkins
Los Angeles 90071 (213) 553-9540
9 Oaktree Capital Management LLC Howard Marks
333 S. Grand Ave., 28th Floor Kevin Clayton
Los Angeles 90071 (213) 830-6300
10 Wells Fargo & Co. Dean A. Junkans
333 S. Grand Ave., Suite 540 Richard D. Byrd
Los Angeles 90071 (800) 464-6027
11 Pacific Financial Research James H. Gipson
9601 Wilshire Blvd., Suite 800 Holly Toole
Beverly Hills 90210 (310) 247-3939
12 First Quadrant LP Max Darnell
800 E. Colorado Blvd., Rick Roberts
Suite 900 (626) 795-8220
Pasadena 91101
13 NWQ Investment Jon D. Bosse
Management Co. LLC Patrick M. Schloss
2049 Century Park East, (310) 712-4000
Fourth Floor
Los Angeles 90067
14 Metropolitan West Tad Rivelle
Asset Management Chris Scibelli
11766 Wilshire Blvd., (310) 966-8900
Suite 1580
Los Angeles 90025
15 Kayne Anderson Rudnik Allan Rudnick
Investment Management LLC Kevin Welsh
1800 Avenue of the Stars, (800) 231-7414
Second Floor
Los Angeles 90049
16 Hotchkis and Wiley Joe Hunter
Capital Management LLC George Davis
725 S. Figueroa St., (213) 430-1000
39th Floor
Los Angeles 90017
17 Transamerica Investment Gary Rolle
Management LLC Claire Blue
11500 S. Olive St., Suite 2700 (213) 742-4141
Los Angeles 90015
18 Wilshire Associates Michael Napoli
1299 Ocean Ave. same
Santa Monica 90401 (310) 451-3051
19 Northern Trust Bank of John Skjervem
California N.A. M. Clark/D. Berghoff
355 S. Grand Ave., Suite 2600 (213) 346-1300
Los Angeles 90071
20 Provident Investment WND
Counsel Inc. F. Brown Windle
300 N. Lake Ave. (626) 449-8500
Pasadena 91101
21 CB Richard Ellis Investors LLC Robert H. Zerbst
865 S. Figueroa St., WIND
Suite 3500 (213) 683-4200
Los Angeles 90017
22 City National Bank Richard Weiss
400 N. Roxbury Drive Tony Orme
Beverly Hills 90210 (800) 708-8881
23 First Pacific Advisors Inc. Robert L. Rodriguez
11400 W. Olympic Blvd., A. Maitra/C. Schmitz
Suite 1200 (310) 473-0225
Los Angeles 90064
24 Post Advisory Group LLC Lawrence A. Post
11755 Wilshire Blvd., P. Mitchell/L. Spurge
Suite 1400 (310) 996-9700
Los Angeles 90025
25 U.S. Trust Co. Harlan H. Thompson
515 S. Flower St., Suite 2700 Carmie Saldana
Los Angeles 90071 (213) 861-5000
N/A--Not Applicable WND--Would Not Disclose
(1) Out of Los Angeles County offices.
(2) All funds based out of Los Angeles.
(3) For 95+ Equity investment strategy.
(4) Institutional; $100,000 for separately managed accounts.
(5) Minimum account is $2,500.
Note: Information for this list provided by representatives of the
firms themselves. Firms are ranked by assets under management out
of L.A. County offices as of Dec. 31, 2003 and Dec. 31, 2002,
respectively. Some firms may appear to be tied due to rounding.
To the best of our knowledge, this information is accurate as of
press time. While every effort is made to ensure the accuracy and
thoroughness of the list, omissions and typographical errors
sometimes occur. Please send corrections or additions on company
letterhead to the Research Department, Los Angeles Business Journal,
5700 Wilshire Blvd., Suite 170, Los Angeles 90036. [c] 2004 Los
Angeles Business Journal. This list may not be reprinted in whole
or in part without prior written permission from the editor.
Reprints are available from Wright's Reprints, (877) 652-5295.
Researched by Nicole Taylor
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